In today’s fast-paced world, the ability to operate financial transactions anywhere and anytime is always in high demand. Whether you are in a gas station, hospital, or any supermarket, the need for convenient and secure banking, even without a personal device or assistance, has become extremely important. This rising demand for seamless and secure banking has paved the way for “Branchless Banking.” Minimized operating costs and wide access facilities have made branchless banking popular among people, especially among those who are outside the traditional banking system. Senrya’s Unified Branchless Banking Platform (UBBP) has successfully addressed the need for minimized operating costs and wide access facilities, making branchless banking popular. It provides a comprehensive wide range of services that smoothly integrate with core banking systems and third-party applications.
What is Unified Branchless Banking?
Unified Branchless Banking is a micro-banking environment that supports transaction processing, account management, and device management. It integrates with core banking systems and other legacy systems to provide a seamless banking experience. The platform uses high-performance modules to acquire, route, and authorize financial messages from various electronic channels.
Key Features of UBBP
Transaction Processing
The UBBP uses standard financial message protocols to communicate with various banking systems. This ensures secure and reliable transaction processing. The platform supports various transaction types, such as withdrawals, deposits, balance inquiries, and fund transfers.
Device Integration
The platform integrates seamlessly with biometric devices, tablets, smartphones, POS systems, and micro-ATMs. This enables the deployment of micro banking services anywhere, making financial services more accessible to everyone.
Core Banking Integration
UBBP integrates with core banking systems to provide a unified banking experience. It insulates regular banking systems from the complexities of micro banking, ensuring smooth and efficient operations.
Modules of UBBP
Transaction Manager
The Transaction Manager uses standard financial messaging protocols to communicate with various banking systems. It tracks the status of messages and ensures secure and reliable transaction processing.
RESTful API
The UBBP is built on a modular architecture that supports various integration requirements. It uses RESTful APIs to provide a powerful layer of business logic, data translation, and robust communication control between UBBP and the target system.
Notification Manager
The Notification Manager provides a mechanism to notify users about new schemes, reports, alerts, and One Time Passwords (OTPs). Notifications can be sent via email, SMS, or push messaging.
Secure Access
UBBP supports secure access using OAuth 2.0, a widely used authorization technology. This ensures that data access is secure and authorized.
Comprehensive Banking Services
So, many of you must be wondering what are premium services that you are going to enjoy with our UBBP. Well, for better understanding we have discussed some of the services that a customer can experience with our branchless banking system.
Customer Onboarding and Account Management
UBBP streamlines customer onboarding, making it easy to add new accounts. It provides comprehensive customer service and acquisition reports, detailing account information and transaction history. Customers can also request debit cards, modify account details, and close accounts seamlessly.
Transactions and Fund Transfers
This platform helps customers easily transfer their funds, check balance inquiries along with various other services. This platform supports a wide range of transactions including NEFT, RTGS, IMPS, and third-party payments
Loan Management
UBBP simplifies loan management by providing detailed loan information, repayment options, payment history, and online loan statements. It also supports loan origination, scouting, and collateral information management.
Cash Management
Cash management is made easy with options for cash deposits and withdrawals, ensuring smooth cash flow for customers. The platform also supports cash-in and cash-out transactions, making it a comprehensive solution for cash management.
Customer Service Requests
Customers can submit service requests, such as modification requests, transaction verification (TRV), and miscellaneous tasks like scanning documents and taking pictures. The platform also supports customer care, calculators, and MMID generation for seamless banking operations.
Benefits of UBBP
As customers, we all desire a seamless and secure banking system that doesn’t require personal assistance. Here’s a list of benefits that clearly demonstrates how UBBP has transformed the overall banking experience, catering to the needs of all customer types.
Increased Accessibility
Now enjoy seamless banking services anywhere and anytime with our UBBP platform, without needing any personal assistance.
Cost Reduction
More banking services can be made available to the customers at a reduced rate, thanks to the Branchless banking that has successfully managed to bring down the operating costs for banks.
Enhanced Security
The advanced security protocol that comes with UBBP ensures secure and authorized transactions
Conclusion
Senrya’s Unified Branchless Banking Platform (UBBP) has simplified and streamlined banking services. UBBP is poised to revolutionize future banking by minimizing costs, increasing accessibility of financial services, and ensuring security. So, whether you’re at the hospital or supermarket, UBBP takes care of all your financial needs.
